LanzaTech Global (NASDAQ:LNZA) Releases Earnings Results, Beats Expectations By $13.41 EPS

LanzaTech Global (NASDAQ:LNZA) issued its quarterly earnings data on Wednesday. The company reported $0.99 EPS for the quarter, topping the consensus estimate of ($12.42) by $13.41, Zacks reports. LanzaTech Global had a negative return on equity of 78,473.86% and a negative net margin of 335.85%.

LanzaTech Global Trading Down 2.0%

Shares of NASDAQ LNZA traded down $0.27 during trading hours on Wednesday, hitting $12.98. 7,352 shares of the company traded hands, compared to its average volume of 23,501. The company’s 50 day moving average price is $22.24 and its 200 day moving average price is $26.39. The stock has a market capitalization of $30.11 million and a price-to-earnings ratio of -0.24. LanzaTech Global has a 12 month low of $12.86 and a 12 month high of $274.00.

Analysts Set New Price Targets

LNZA has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of LanzaTech Global in a research report on Wednesday, October 8th. Zacks Research lowered shares of LanzaTech Global from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Wall Street Zen lowered LanzaTech Global from a “hold” rating to a “strong sell” rating in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On LanzaTech Global

Institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd bought a new position in shares of LanzaTech Global during the second quarter valued at approximately $27,000. AQR Capital Management LLC boosted its holdings in LanzaTech Global by 1,045.1% in the first quarter. AQR Capital Management LLC now owns 184,346 shares of the company’s stock worth $45,000 after acquiring an additional 168,247 shares in the last quarter. XTX Topco Ltd grew its position in LanzaTech Global by 380.5% during the 2nd quarter. XTX Topco Ltd now owns 188,891 shares of the company’s stock worth $51,000 after purchasing an additional 149,576 shares during the last quarter. Marshall Wace LLP acquired a new stake in LanzaTech Global during the 2nd quarter worth about $82,000. Finally, Jane Street Group LLC purchased a new stake in LanzaTech Global in the second quarter valued at approximately $230,000. 17.76% of the stock is owned by hedge funds and other institutional investors.

About LanzaTech Global

LanzaTech Global, Inc operates as a nature-based carbon refining company in the United States and internationally. The company transforms waste carbon into the chemical building blocks for consumer goods, such as sustainable fuels, fabrics, and packaging. It is also developing biocatalysts and processes to produce a suite of additional products utilizing novel biocatalysts, including acetone and isopropanol (IPA) and industrial solvents used in various applications, including production of polymers from IPA.